NDRC: no controlling stake right for foreign companies
SteelOrbis Shanghai
Commissioner in the National Development and Reform Commission (NDRC) of
China emphasized that several iron and steel companies' negotiations on establishing joint ventures should be paid close attention.
He stated that whether South Korean based POSCO Company's project will be approved depends on the specific cooperative mode. In addition, world second largest iron and steel company, Arcelor plans to buy shares of
Laiwu Iron and Steel Company, however, the project hasn't yet been approved. The commissioner added that NDRC does not favor for foreign companies to obtain the control right of shareholding.